Moreton Bay sees increases in land values
Landowners across Moreton Bay have today awoken to new land valuations after extensive land sales and economic analysis undertaken by the state’s valuation service.
Queensland’s Valuer-General Neil Bray said the valuations reflected up to date and current land values and showed values in the Moreton Bay Regional Council area had increased by as much as 9.3 per cent overall since its last valuation in 2017.
“The new median residential land value of $255,000 has had a minor rise since 2017 reflecting an ongoing demand for well-located and affordable property close to Brisbane and Moreton Bay,” Mr Bray said.
“Some areas such as Ningi and Beachmere reflected moderate increases in values due to demand for bayside living, with the median value of residential land in Ningi increasing from $187,500 to $225,000.
“Median land values in the areas adjoining Brisbane City have had slight to minor increases overall with new residential values of $385,000 in Everton Hills and $355,000 in both Albany Creek and Arana Hills.
“Established areas south of the Pine River have also had minor increases with new median values of $255,000 at Strathpine and Lawnton.
“Residential land in Caboolture saw slight to minor increases with a new residential median value of $180,000 in Caboolture and $222,500 in Burpengary.
“Bribie Island and bayside areas near the Pumicestone Passage have also seen minor to moderate increases with new median values ranging from $255,000 at Bellara to $440,000 at White Patch.
“The Redcliffe Peninsula saw a minor growth in residential median values with Woody Point increasing to $335,000 and Scarborough to $375,000 respectively.
“Most of the small hinterland towns have had moderate to significant increases with the residential median value in Woodford increasing to $205,000, while Samford Village also increased to $420,000 reflecting its proximity to Brisbane.”
Mr Bray said land valuations are used by councils to determine what to charge in rates, and for state land tax and state land rental amounts.
“These valuations will become effective 30 June, however I encourage landowners who believe they have additional or new evidence which may alter their new valuation to provide this information through the online objections process via www.qld.gov.au/landvaluation or at the address shown at the top of their valuation notice by 7 May 2019,” Mr Bray said.
For a more detailed breakdown of the Moreton Bay Regional Council valuations follow the link below. Hard copies of the valuation list for the Moreton Bay Regional Council can also be viewed at the the Department of Natural Resources, Mines and Energy, Level 4, 33 King Street, Caboolture during normal business hours until close of business on 4 June 2019.
- Rural residential value impacts generally vary across the region with minor changes to values around Caboolture while southern environs adjoining Brisbane have seen minor to moderate increases. Mount Nebo and Mount Glorious are generally unchanged. The improving market has resulted in a minor increase to the rural residential median value of $340,000 since the previous valuation in 2017.
- Multi-unit residential land values have had a minor increase overall with most changes underpinned by surrounding residential values. There have been minor increases in the southern areas adjoining Brisbane, on Bribie Island and the Redcliffe Peninsula, while Caboolture is largely unchanged with a slight increase in some areas.
- Industrial land values have seen a minor increase overall largely based around minor to moderate increases in the Kallangur, Narangba and Redcliffe areas. Commercial activity has improved across Moreton Bay since 2017 with a minor increase overall to commercial land values.
- The value of rural land has had a minor increase overall with minor changes in the northern Caboolture area and western environs and moderate changes to southern areas closer to the Brisbane City boundary.
Valuations were last issued in the Moreton Bay Regional Council local government area in 2017.
Table 1 below provides information on median values for residential land within the Moreton Bay Regional Council area.
Table 1 – Median value of residential land*
|Residential localities||Previous median value as at 1/10/2016 ($)||New median value as at 1/10/2018 ($)||Change in median value (%)||Number of properties|
|All residential localities||230,000||255,000||10.9||121,365|
* Does not include land valued as multi-unit or rural residential
Rural residential land
Table 2 below provides information on the median value for rural residential land within the Moreton Bay Regional Council area.
Table 2 – Median value of rural residential land*
|Land Use||Previous median value as at 1/10/2016 ($)||New median value as at 1/10/2018 ($)||Change in median value (%)||Number of properties|
Other land uses
Table 3 below provides information on total land values for land uses other than residential and rural residential land within the Moreton Bay Regional Council area.
Table 3 – Total land values of other land uses
|Land use category||Previous total land value as at 1/10/2016 ($)||New total land value as at 1/10/2018 ($)||Change in total land value (%)||Number of properties|
Last updated 6 March 2019